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Strong support for mandatory testing for financial advisers

Given that financial advisers are the custodians of the future financial wellbeing of many Australians, Governance Institute of Australia (formerly Chartered Secretaries Australia) is urging the government, as a minimum, to heed the Australian Securities & Investments Commission’s (ASIC) plea for mandatory testing for all new and existing advisers on Tier 1 products, mandatory monitoring and supervision of new advisers, and a mandatory online update review for all advisers every three years.